Supplier Selection Vocab

The act or process of carrying out or accomplishing an action, task, or function.​ (a)  

• Performance
• Capacity
• Cost
• Cycle Time
• Reliability
• Request for Proposal
• Request for Quote
• Strategic
• Supplier
• Weighted Criteria

A principle or standard by which something may be judged or decided and then weighted by importance.​ (a)  

• Capacity
• Cost
• Cycle Time
• Reliability
• Request for Proposal
• Request for Quote
• Strategic
• Supplier
• Weighted Criteria
• Performance

A document used to solicit bids from interested and qualified suppliers for goods or services that the organization needs to obtain. (a)  

• Capacity
• Cost
• Cycle Time
• Reliability
• Request for Proposal
• Request for Quote
• Strategic
• Supplier
• Weighted Criteria
• Performance

The time between completions of two discrete units of production, or the length of time from when material enters a production facility until it exits. ​ (a)  

• Capacity
• Cost
• Reliability
• Request for Proposal
• Strategic
• Supplier
• Weighted Criteria
• Performance
• Request for Quote
• Cycle Time

A provider of goods or services. The seller with whom the buyer does business. ​ (a)  

• Capacity
• Cost
• Reliability
• Request for Proposal
• Strategic
• Supplier
• Weighted Criteria
• Performance
• Request for Quote
• Cycle Time

An amount that has to be paid or spent to buy or obtain something. ​ (a)  

• Capacity
• Cost
• Reliability
• Request for Proposal
• Strategic
• Supplier
• Weighted Criteria
• Performance
• Request for Quote
• Cycle Time

The quality of being trustworthy or of performing consistently well. ​ (a)  

• Capacity
• Cost
• Reliability
• Request for Proposal
• Strategic
• Supplier
• Weighted Criteria
• Performance
• Request for Quote
• Cycle Time

A detailed capabilities document used to determine a supplier's capability and interest in the production of a product or service. ​ (a)  

• Capacity
• Cost
• Reliability
• Request for Proposal
• Strategic
• Supplier
• Weighted Criteria
• Performance
• Request for Quote
• Cycle Time

The identification of long-term or overall goals and objectives and the means of achieving them. ​ (a)  

• Capacity
• Cost
• Reliability
• Request for Proposal
• Strategic
• Supplier
• Weighted Criteria
• Performance
• Request for Quote
• Cycle Time

The capability of a system to perform its expected function, or the capability of a worker, machine, work center, plant, or organization to produce output per time period. (a)  

• Capacity
• Cost
• Reliability
• Request for Proposal
• Strategic
• Supplier
• Weighted Criteria
• Performance
• Request for Quote
• Cycle Time